Aircraft partnership expense spreadsheet examples

[Houman]

Hi,

I'm trying to create a spreadsheet to capture and keep all expenses paid by each partner and do our accounting at the end of each month, and I was wondering is someone already has something like that.

Thanks !!!

[Hank]

When I had a partner, I bought gas & oil, we split all repairs and maintenance as the bills came in.

[scottfromiowa]

We charge $200/month. Goes to insurance/annual/hanger/upgrades. $25/hour for use. Keep a log in the plane. Charge on a 1/4ly basis. Goes for engine upgrade. We rotate buying oil and camguard for oil changes. We fill the plane after we fly...leaving tanks full is easy to handle fuel.

Works for us. Checking and savings account has access for both.

[Houman]

yeah, what we are going to do is put 50$/h for the engine and major repairs, we calculate this will give us almost 200% of engine overhaul costs, so should be more than enough.

As per other expenses, it will go split in half, but we need to keep track of who pays what and if money is owned to a partner, hence the spreadsheet... thanks to Steve who sent me a copy, I will take a look at them...

[Seth]

I would say don't make a spreadsheet or you'll stop flying . . . but then I saw the partnership aspect.  Makes sense - I don't have a spreadsheet for partnership uses, but the advice given is already pretty good, and setting one up for most people is necessary.

 

Good luck with the partnership. 

 

-Seth

[JasonW]

We have a spreadsheet to track expenses I can email you.  We don't keep the fuel at the same level so it calculates how much each of us used and who is responsible for what.  As expenses come up the person that is behind pays for it to keep things balanced.  It works for us.